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Zombie economics [electronic resource] : how dead ideas still walk among us /
John Quiggin.
imprint
Princeton : Princeton University Press, c2010.
description
viii, 238 p. ; 24 cm.
ISBN
9780691145822 (acid-free paper)
format(s)
Book
Holdings
More Details
imprint
Princeton : Princeton University Press, c2010.
isbn
9780691145822 (acid-free paper)
restrictions
Licensed for access by U. of T. users.
catalogue key
11955621
 
Includes bibliographical references (p. [213]-227) and index.
A Look Inside
Excerpts
Flap Copy
"Killing vampires and werewolves is easy enough. But how does one slay economic zombies--ideas that should have died long ago but still shamble forward? Armed with nothing but the truth, John Quiggin sets about dispatching these dead ideas once and for all in this engaging book. Zombie Economics should be required reading for those who would dare reanimate the economic theories that brought us to the edge of ruin."-- Brad DeLong, University of California, Berkeley "Tempted to tangle with your libertarian uncle or your Wall Street Journal bromide-spouting coworkers? If so, this book will arm you to rebut the clever phrasemaking and slippery reasoning that has allowed dead constructs like trickle down economics to soldier onward. Quiggins clear, elegant dissection of wrongheaded notions will appeal to both lay readers and academic economists."-- Yves Smith, author of ECONned: How Unenlightened Self-Interest Undermined Democracy and Corrupted Capitalism " Zombie Economics provides a unique and comprehensive discussion of the ideas that failed during the recent financial crisis. But the book contributes much more. Its discussion of how macroeconomics developed, and the ideology that has grown up around it, is every bit as important and interesting."-- Mark Thoma, University of Oregon "This is a terrific book. Quiggin is an engaging writer, and the combination of quotations, history, theory, and hard evidence makes the book quite a page-turner."-- Andrew Leigh, Australian National University
Flap Copy
"Killing vampires and werewolves is easy enough. But how does one slay economic zombies--ideas that should have died long ago but still shamble forward? Armed with nothing but the truth, John Quiggin sets about dispatching these dead ideas once and for all in this engaging book. Zombie Economics should be required reading for those who would dare reanimate the economic theories that brought us to the edge of ruin."--Brad DeLong, University of California, Berkeley "Tempted to tangle with your libertarian uncle or your Wall Street Journal bromide-spouting coworkers? If so, this book will arm you to rebut the clever phrasemaking and slippery reasoning that has allowed dead constructs like 'trickle down economics' to soldier onward. Quiggin's clear, elegant dissection of wrongheaded notions will appeal to both lay readers and academic economists."--Yves Smith, author of ECONned: How Unenlightened Self-Interest Undermined Democracy and Corrupted Capitalism " Zombie Economics provides a unique and comprehensive discussion of the ideas that failed during the recent financial crisis. But the book contributes much more. Its discussion of how macroeconomics developed, and the ideology that has grown up around it, is every bit as important and interesting."--Mark Thoma, University of Oregon "This is a terrific book. Quiggin is an engaging writer, and the combination of quotations, history, theory, and hard evidence makes the book quite a page-turner."--Andrew Leigh, Australian National University
Flap Copy
"Killing vampires and werewolves is easy enough. But how does one slay economic zombies--ideas that should have died long ago but still shamble forward? Armed with nothing but the truth, John Quiggin sets about dispatching these dead ideas once and for all in this engaging book.Zombie Economicsshould be required reading for those who would dare reanimate the economic theories that brought us to the edge of ruin."--Brad DeLong, University of California, Berkeley"Tempted to tangle with your libertarian uncle or yourWall Street Journalbromide-spouting coworkers? If so, this book will arm you to rebut the clever phrasemaking and slippery reasoning that has allowed dead constructs like 'trickle down economics' to soldier onward. Quiggin's clear, elegant dissection of wrongheaded notions will appeal to both lay readers and academic economists."--Yves Smith, author ofECONned: How Unenlightened Self-Interest Undermined Democracy and Corrupted Capitalism"Zombie Economicsprovides a unique and comprehensive discussion of the ideas that failed during the recent financial crisis. But the book contributes much more. Its discussion of how macroeconomics developed, and the ideology that has grown up around it, is every bit as important and interesting."--Mark Thoma, University of Oregon"This is a terrific book. Quiggin is an engaging writer, and the combination of quotations, history, theory, and hard evidence makes the book quite a page-turner."--Andrew Leigh, Australian National University
Full Text Reviews
Appeared in Library Journal on 2010-10-01:
Apparently some economists have a sense of humor, dismal though it may be. Quiggin (economics, Univ. of Queensland, Australia) uses the 2008 global financial crisis as the focal point for examining five core macroeconomic and financial theories that have been-to use zombie terminology-killed by our current predicament. These concepts are essentially tenets of free-market economics, which Quiggin refers to as "market liberalism." Each chapter examines the birth, life, and death of an idea and offers suggestions for alternative views, along with extensive reading lists. He covers important territory such as the efficient-markets hypothesis, trickle-down economics, and privatization. Using examples that focus mainly on the United States, the UK, and his native Australia, he draws similar conclusions from markets and economies worldwide, starting with the Great Depression and working his way to the present global financial crisis. VERDICT While this book's title and cover art imply pop economics, its content is considerably more academic. Because the embedded concepts require an understanding of macroeconomics, microeconomics, and finance, Quiggin clues readers in to key theories and concepts without bogging down the text. Economics students and interested lay readers will find this valuable.-Carol J. Elsen, Univ. of Wisconsin-Whitewater (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.
Appeared in Choice on 2011-03-01:
Quiggin (Univ. of Queensland, Australia) notes that current economic policy is often harmed by "zombie" ideas, i.e., ones that have been killed by experience and scholarship but keep coming back to attack the present. Of course, the author has his own view on which ideas are zombie, and he devotes five of the book's six chapters to killing them off. From the so-called "great moderation" concept to the implications of the efficient markets hypothesis, Quiggin does an excellent job summarizing each zombie idea and explaining why it is discredited in a simple (but not simplistic) manner. In the final chapter, he presents his view on what economics should focus on going forward. Nearly all economists will disagree with something in this volume, either because they subscribe to one of Quiggin's zombie ideas or because they feel that by writing for the general reader he fails to capture the nuance of the professional debate. Which is why, of course, this book would make excellent supplemental reading for an intermediate macroeconomics course. Summing Up: Highly recommended. General readers and upper-division undergraduate students. J. C. Hall Beloit College
Reviews
Review Quotes
An excellent new book.
[An] excellent new book . . .
"[A]n excellent new book."-- Jessica Irvine, Sydney Morning Herald
[A]n excellent new book. -- Jessica Irvine, Sydney Morning Herald
Apparently some economists have a sense of humor, dismal though it may be. Quiggin uses the 2008 global financial crisis as the focal point for examining five core macroeconomic and financial theories that have been--to use zombie terminology--killed by our current predicament. . . . Economics students and interested lay readers will find this valuable.
"Apparently some economists have a sense of humor, dismal though it may be. Quiggin uses the 2008 global financial crisis as the focal point for examining five core macroeconomic and financial theories that have been--to use zombie terminology--killed by our current predicament. . . . Economics students and interested lay readers will find this valuable."-- Library Journal
Apparently some economists have a sense of humor, dismal though it may be. Quiggin uses the 2008 global financial crisis as the focal point for examining five core macroeconomic and financial theories that have been--to use zombie terminology--killed by our current predicament. . . . Economics students and interested lay readers will find this valuable. -- Library Journal
As well as exposing how these flawed ideas brought on the global crisis and how they live on, Quiggin offers his view on a new way forward in economic theory. It's time to bury the zombie.
"As well as exposing how these flawed ideas brought on the global crisis and how they live on, Quiggin offers his view on a new way forward in economic theory. It's time to bury the zombie."-- Fiona Capp, The Age
As well as exposing how these flawed ideas brought on the global crisis and how they live on, Quiggin offers his view on a new way forward in economic theory. It's time to bury the zombie. -- Fiona Capp, The Age
Cleverly titled, with a wonderful and very un-academic cartoon cover and written without excessive jargon, Zombie Economics provides an elegant critical introduction and analysis of some of the key ideas of modern economic thought.
"Cleverly titled, with a wonderful and very un-academic cartoon cover and written without excessive jargon, Zombie Economics provides an elegant critical introduction and analysis of some of the key ideas of modern economic thought."-- Satyajit Das, Naked Capitalism blog
Cleverly titled, with a wonderful and very un-academic cartoon cover and written without excessive jargon, Zombie Economics provides an elegant critical introduction and analysis of some of the key ideas of modern economic thought. -- Satyajit Das, Naked Capitalism blog
[Cogent] and readable . . .
"[Cogent] and readable . . ."-- The Nation
[Cogent] and readable . . . -- The Nation
Co-Winner of the 2012 Gold Medal Book Award in Economics, Axiom Business One of Bloomberg News 's (bloomberg.com/news) Top Thirty Business Books of the Year for 2010 One of Financial Times (FT.com)'s Books of the Year in Nonfiction Round-Up in the Science & Environment list for 2010 One of Naked Capitalism blog's , "Must Read" Economics Books, Yves Smith for 2011
Entertaining and thought-provoking. . . . [W]orks as a good summary for non-specialists of how the economics debate has developed.
"Entertaining and thought-provoking. . . . [W]orks as a good summary for non-specialists of how the economics debate has developed."-- Philip Coggan, Economist
Entertaining and thought-provoking. . . . [W]orks as a good summary for non-specialists of how the economics debate has developed. -- Philip Coggan, Economist
Erroneous economic ideas resemble the living dead, writes John Quiggin in his smart new book Zombie Economics . They are dangerous yet impossible to kill. Even after a financial crisis buries them, they survive in our minds and can rise unbidden from the necropolis of ideology.
"Erroneous economic ideas resemble the living dead, writes John Quiggin in his smart new book Zombie Economics . They are dangerous yet impossible to kill. Even after a financial crisis buries them, they survive in our minds and can rise unbidden from the necropolis of ideology."-- James Pressley, Bloomberg News
Erroneous economic ideas resemble the living dead, writes John Quiggin in his smart new book Zombie Economics . They are dangerous yet impossible to kill. Even after a financial crisis buries them, they survive in our minds and can rise unbidden from the necropolis of ideology. -- James Pressley, Bloomberg News
From the so-called 'great moderation' concept to the implications of the efficient markets hypothesis, Quiggin does an excellent job summarizing each zombie idea and explaining why it is discredited in a simple (but not simplistic) manner.
"From the so-called 'great moderation' concept to the implications of the efficient markets hypothesis, Quiggin does an excellent job summarizing each zombie idea and explaining why it is discredited in a simple (but not simplistic) manner."-- Choice
From the so-called 'great moderation' concept to the implications of the efficient markets hypothesis, Quiggin does an excellent job summarizing each zombie idea and explaining why it is discredited in a simple (but not simplistic) manner. -- Choice
I encourage my colleagues in sociology, psychology, and management to read this book and leverage it to lead to a more integrated social science and, perhaps, a more socially aware economic science.
"I encourage my colleagues in sociology, psychology, and management to read this book and leverage it to lead to a more integrated social science and, perhaps, a more socially aware economic science."-- Brent Goldfarb, Administrative Science Quarterly
I haven't done justice to Quiggin's book, so if you're interested in a readable exposition of the exploits of academic economists over the past 35 years I recommend it highly. It's the story of how economists forgot much of what they knew. Please, guys, don't do that again.
"I haven't done justice to Quiggin's book, so if you're interested in a readable exposition of the exploits of academic economists over the past 35 years I recommend it highly. It's the story of how economists forgot much of what they knew. Please, guys, don't do that again."-- Ross Gittins, Sydney Morning Herald
I haven't done justice to Quiggin's book, so if you're interested in a readable exposition of the exploits of academic economists over the past 35 years I recommend it highly. It's the story of how economists forgot much of what they knew. Please, guys, don't do that again. -- Ross Gittins, Sydney Morning Herald
It's hard to resist a book called Zombie Economics , and University of Queensland professor John Quiggin makes his tale as compelling as his title. . . . It's the rare read that's both thoughtful and fun.
"It's hard to resist a book called Zombie Economics , and University of Queensland professor John Quiggin makes his tale as compelling as his title. . . . It's the rare read that's both thoughtful and fun."-- Biz Ed
It's hard to resist a book called Zombie Economics , and University of Queensland professor John Quiggin makes his tale as compelling as his title. . . . It's the rare read that's both thoughtful and fun. -- Biz Ed
Lucid, lively and loaded with hard data, passionate, provocative and . . . persuasive. . . . [ Zombie Economics ] should be required reading, even for those who aren't Keynesians or Krugmaniacs.
Lucid, lively and loaded with hard data, passionate, provocative and . . . persuasive. . . . [Zombie Economics] should be required reading, even for those who aren't Keynesians or Krugmaniacs.
"Lucid, lively and loaded with hard data, passionate, provocative and . . . persuasive. . . . [ Zombie Economics ] should be required reading, even for those who aren't Keynesians or Krugmaniacs."-- Glenn C. Altschuler, Barron's
Lucid, lively and loaded with hard data, passionate, provocative and . . . persuasive. . . . [ Zombie Economics ] should be required reading, even for those who aren't Keynesians or Krugmaniacs. -- Glenn C. Altschuler, Barron's
Lucid, lively and loaded with hard data, passionate, provocative and . . . persuasive. . . . [Zombie Economics] should be required reading, even for those who aren't Keynesians or Krugmaniacs. -- Glenn C. Altschuler, Barron's
Peppered with humorous quotations, theory and history, Quiggin has assembled a compelling read about the misguided intellectual economic assumptions of the last forty years and also gives possible solutions to our current financial dilemma.
Peppered with humorous quotations, theory and history, Quiggin has assembled a compelling read about the misguided intellectual economic assumptions of the last forty years and also gives possible solutions to our current financial dilemma. -- Stamas, Bullfax.com
"Peppered with humorous quotations, theory and history, Quiggin has assembled a compelling read about the misguided intellectual economic assumptions of the last forty years and also gives possible solutions to our current financial dilemma."-- Ted Stamas, Bullfax.com
Peppered with humorous quotations, theory and history, Quiggin has assembled a compelling read about the misguided intellectual economic assumptions of the last forty years and also gives possible solutions to our current financial dilemma. -- Ted Stamas, Bullfax.com
Put a bullet through the decaying brain of walking-dead economics by reading Quiggin.
"Put a bullet through the decaying brain of walking-dead economics by reading Quiggin."-- Seth Sandronsky, SN&R
Put a bullet through the decaying brain of walking-dead economics by reading Quiggin. -- Seth Sandronsky, SN&R
Quiggin is a writer of great verve who marshals some powerful evidence.
Quiggin is a writer of great verve who marshals some powerful evidence. -- Financial Times
"Quiggin is a writer of great verve who marshals some powerful evidence."-- Financial Times (FT Critics Pick 2010)
The financial crisis has disproved many cherished tenets of 'market liberalism', such as the 'Efficient Markets Hypothesis', yet these zombie ideas still shamble through newspapers and journals. Enter economist Quiggin, calmly wielding dual shotguns to blast them relentlessly in the face. . . . As Quiggin explains with elegance, lucidity and deadpan humour, the undead ideas here are interconnected: killing one causes it to knock over another in a sort of zombie-dominoes effect.
"The financial crisis has disproved many cherished tenets of 'market liberalism', such as the 'Efficient Markets Hypothesis', yet these zombie ideas still shamble through newspapers and journals. Enter economist Quiggin, calmly wielding dual shotguns to blast them relentlessly in the face. . . . As Quiggin explains with elegance, lucidity and deadpan humour, the undead ideas here are interconnected: killing one causes it to knock over another in a sort of zombie-dominoes effect."-- Guardian
The financial crisis has disproved many cherished tenets of 'market liberalism', such as the 'Efficient Markets Hypothesis', yet these zombie ideas still shamble through newspapers and journals. Enter economist Quiggin, calmly wielding dual shotguns to blast them relentlessly in the face. . . . As Quiggin explains with elegance, lucidity and deadpan humour, the undead ideas here are interconnected: killing one causes it to knock over another in a sort of zombie-dominoes effect. -- Guardian
This book is certainly a good read for anyone eager to know why it is urgent that economists come up with a socially useful body of thought or suggestions.
"This book is certainly a good read for anyone eager to know why it is urgent that economists come up with a socially useful body of thought or suggestions."-- Shanghai Daily
This book is certainly a good read for anyone eager to know why it is urgent that economists come up with a socially useful body of thought or suggestions. -- Shanghai Daily
Zombie Economics is . . . a highly readable and sobering assessment of the role played by discredited economic ideas in the global financial and economic meltdown of 2008-09. Quiggin delves deeply into the origins and development of all the star culprits so loved by the economic right in recent decades: from the efficient markets hypothesis to privatization and Real Business Cycle Theory. None has stood up to the stern test posed by real markets and economies in crisis. Yet most live on, still featured in many curriculums and advocated by those academics who have staked their careers on them.
" Zombie Economics is . . . a highly readable and sobering assessment of the role played by discredited economic ideas in the global financial and economic meltdown of 2008-09. Quiggin delves deeply into the origins and development of all the star culprits so loved by the economic right in recent decades: from the efficient markets hypothesis to privatization and Real Business Cycle Theory. None has stood up to the stern test posed by real markets and economies in crisis. Yet most live on, still featured in many curriculums and advocated by those academics who have staked their careers on them."-- Globe & Mail
Zombie Economics is . . . a highly readable and sobering assessment of the role played by discredited economic ideas in the global financial and economic meltdown of 2008-09. Quiggin delves deeply into the origins and development of all the star culprits so loved by the economic right in recent decades: from the efficient markets hypothesis to privatization and Real Business Cycle Theory. None has stood up to the stern test posed by real markets and economies in crisis. Yet most live on, still featured in many curriculums and advocated by those academics who have staked their careers on them. -- Globe & Mail
Killing vampires and werewolves is easy enough. But how does one slay economic zombies--ideas that should have died long ago but still shamble forward? Armed with nothing but the truth, John Quiggin sets about dispatching these dead ideas once and for all in this engaging book.Zombie Economicsshould be required reading for those who would dare reanimate the economic theories that brought us to the edge of ruin.
Tempted to tangle with your libertarian uncle or yourWall Street Journalbromide-spouting coworkers? If so, this book will arm you to rebut the clever phrasemaking and slippery reasoning that has allowed dead constructs like 'trickle down economics' to soldier onward. Quiggin's clear, elegant dissection of wrongheaded notions will appeal to both lay readers and academic economists.
This is a terrific book. Quiggin is an engaging writer, and the combination of quotations, history, theory, and hard evidence makes the book quite a page-turner.
Zombie Economicsprovides a unique and comprehensive discussion of the ideas that failed during the recent financial crisis. But the book contributes much more. Its discussion of how macroeconomics developed, and the ideology that has grown up around it, is every bit as important and interesting.
This item was reviewed in:
Guardian UK, October 2010
Library Journal, October 2010
Choice, March 2011
To find out how to look for other reviews, please see our guides to finding book reviews in the Sciences or Social Sciences and Humanities.
Summaries
Bowker Data Service Summary
The financial crisis exposed many of the assumptions behind market liberalism, but didn't necessarily kill off the theory. John Quiggin argues that dead ideas still stalk the post-2008 world, informing policy & commentary, haunting even those who have been tasked with clearing up the mess.
Main Description
In the graveyard of economic ideology, dead ideas still stalk the land. The recent financial crisis laid bare many of the assumptions behind market liberalism--the theory that market-based solutions are always best, regardless of the problem. For decades, their advocates dominated mainstream economics, and their influence created a system where an unthinking faith in markets led many to view speculative investments as fundamentally safe. The crisis seemed to have killed off these ideas, but they still live on in the minds of many--members of the public, commentators, politicians, economists, and even those charged with cleaning up the mess. In Zombie Economics , John Quiggin explains how these dead ideas still walk among us--and why we must find a way to kill them once and for all if we are to avoid an even bigger financial crisis in the future. Zombie Economics takes the reader through the origins, consequences, and implosion of a system of ideas whose time has come and gone. These beliefs--that deregulation had conquered the financial cycle, that markets were always the best judge of value, that policies designed to benefit the rich made everyone better off--brought us to the brink of disaster once before, and their persistent hold on many threatens to do so again. Because these ideas will never die unless there is an alternative, Zombie Economics also looks ahead at what could replace market liberalism, arguing that a simple return to traditional Keynesian economics and the politics of the welfare state will not be enough--either to kill dead ideas, or prevent future crises.
Main Description
In the graveyard of economic ideology, dead ideas still stalk the land. The recent financial crisis laid bare many of the assumptions behind market liberalism--the theory that market-based solutions are always best, regardless of the problem. For decades, their advocates dominated mainstream economics, and their influence created a system where an unthinking faith in markets led many to view speculative investments as fundamentally safe. The crisis seemed to have killed off these ideas, but they still live on in the minds of many--members of the public, commentators, politicians, economists, and even those charged with cleaning up the mess. In Zombie Economics, John Quiggin explains how these dead ideas still walk among us--and why we must find a way to kill them once and for all if we are to avoid an even bigger financial crisis in the future. Zombie Economics takes the reader through the origins, consequences, and implosion of a system of ideas whose time has come and gone. These beliefs--that deregulation had conquered the financial cycle, that markets were always the best judge of value, that policies designed to benefit the rich made everyone better off--brought us to the brink of disaster once before, and their persistent hold on many threatens to do so again. Because these ideas will never die unless there is an alternative, Zombie Economics also looks ahead at what could replace market liberalism, arguing that a simple return to traditional Keynesian economics and the politics of the welfare state will not be enough--either to kill dead ideas, or prevent future crises.
Main Description
In the graveyard of economic ideology, dead ideas still stalk the land.The recent financial crisis laid bare many of the assumptions behind market liberalism--the theory that market-based solutions are always best, regardless of the problem. For decades, their advocates dominated mainstream economics, and their influence created a system where an unthinking faith in markets led many to view speculative investments as fundamentally safe. The crisis seemed to have killed off these ideas, but they still live on in the minds of many--members of the public, commentators, politicians, economists, and even those charged with cleaning up the mess. InZombie Economics, John Quiggin explains how these dead ideas still walk among us--and why we must find a way to kill them once and for all if we are to avoid an even bigger financial crisis in the future.Zombie Economicstakes the reader through the origins, consequences, and implosion of a system of ideas whose time has come and gone. These beliefs--that deregulation had conquered the financial cycle, that markets were always the best judge of value, that policies designed to benefit the rich made everyone better off--brought us to the brink of disaster once before, and their persistent hold on many threatens to do so again. Because these ideas will never die unless there is an alternative,Zombie Economicsalso looks ahead at what could replace market liberalism, arguing that a simple return to traditional Keynesian economics and the politics of the welfare state will not be enough--either to kill dead ideas, or prevent future crises.
Main Description
In the graveyard of economic ideology, dead ideas still stalk the land. The recent financial crisis laid bare many of the assumptions behind market liberalism--the theory that market-based solutions are always best, regardless of the problem. For decades, their advocates dominated mainstream economics, and their influence created a system where an unthinking faith in markets led many to view speculative investments as fundamentally safe. The crisis seemed to have killed off these ideas, but they still live on in the minds of many--members of the public, commentators, politicians, economists, and even those charged with cleaning up the mess. In Zombie Economics , John Quiggin explains how these dead ideas still walk among us--and why we must find a way to kill them once and for all if we are to avoid an even bigger financial crisis in the future. Zombie Economics takes the reader through the origins, consequences, and implosion of a system of ideas whose time has come and gone. These beliefs--that deregulation had conquered the financial cycle, that markets were always the best judge of value, that policies designed to benefit the rich made everyone better off--brought us to the brink of disaster once before, and their persistent hold on many threatens to do so again. Because these ideas will never die unless there is an alternative, Zombie Economics also looks ahead at what could replace market liberalism, arguing that a simple return to traditional Keynesian economics and the politics of the welfare state will not be enough--either to kill dead ideas, or prevent future crises. In a new chapter, Quiggin brings the book up to date with a discussion of the re-emergence of pre-Keynesian ideas about austerity and balanced budgets as a response to recession.
Table of Contents
Prefacep. vii
Introductionp. 1
The Great Moderationp. 5
Birth: Calm after the Stormsp. 8
Life: The Great Risk Shiftp. 13
Death: The Dissenters and Their Vindicationp. 19
Reanimation: A Global Crisis or a Transitory Blip?p. 30
After the Zombies: Rethinking the Experience of the Twentieth Centuryp. 31
Further Readingp. 34
The Efficient Markets Hypothesisp. 35
Birth: From Casino to Calculating Machinep. 36
Life: Black-Scholes, Bankers, and Bubblesp. 39
Death: The Crisis of 2008p. 50
Reanimation: Chicago Revives the Deadp. 64
After the Zombies: The State and the Marketp. 66
Further Readingp. 77
Dynamic Stochastic General Equilibriump. 79
Birth: From the Phillips Curve to the NAIRU, and Beyondp. 83
Life: Rationality and the Representative Agentp. 106
Death: How Did Economists Get It So Wrong?p. 110
Reanimation: How Obama Caused the Global Financial Crisisp. 121
After the Zombies: Toward a Realistic Macroeconomicsp. 123
Further Readingp. 133
Trickle-Down Economicsp. 136
Birth: From Supply-side Economics to Dynamic Scoringp. 138
Life: Excuses for Inequalityp. 146
Death: The Rich Get Richer and the Poor Go Nowherep. 152
Reanimation: Mobility without Movementp. 167
After the Zombies: Economics, Inequality, and Equityp. 168
Further Readingp. 172
Privatizationp. 174
Birth: We Are All Market Liberals Nowp. 178
Life: A Policy in Search of a Rationalep. 182
Death: Puzzles and Failuresp. 187
Reanimation: Dead for Good?p. 199
After the Zombies: The Mixed Economyp. 200
Further Readingp. 204
Conclusion Economics for the Twenty-First Centuryp. 206
Rethinking the Experience of the Twentieth Centuryp. 206
A New Approach to Risk and Uncertaintyp. 207
What Is Needed in Economicsp. 210
Referencesp. 213
Indexp. 229
Table of Contents provided by Ingram. All Rights Reserved.

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